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When you first set out on your business career, your visions of the future may not have involved quite so many bills, demands and pressures.
Difficulties with customers and suppliers or general cash flow problems can make you feel like your business is drowning in liabilities and that all the hard work and effort you and your team put in over the years is slipping away. But you are not alone, financial challenges are faced by virtually all businesses at some point in their existence and we have helped many move beyond them onto greener pastures.
At Smithfield Partners in London, we understand the pressures that financial difficulties can bring to bear on businesses. Whether your business is struggling to pay its bills or having problems with customers not paying your invoices, we are here to help you see the light at the end of the tunnel.
Financial problems do not have to mean the end of your business even if creditor litigation threatens or debt covenants have been breached and insolvency seems imminent.
We can help you find a practical solution, including negotiating with your creditors or defending your business from threats of litigation or winding-up petitions. There may be sound legal reasons why a bill remains unpaid and we can help you assess the merits of any defence.
When you contact our insolvency and debt recovery specialists in our Central London offices, we will explore the different options available to you, which will depend on how your business is structured and the level of individual personal financial commitment. If insolvency is unavoidable we have the expertise to support and guide you through the process.
At Smithfield Partners we also provide debt recovery services for creditors.
To assist with debt recovery, we can devise a structured credit control strategy for your business and help you implement it. You will control the entire process and only pass cases to us at a suitable, usually pre-determined, stage that is appropriate to your resources.
We have the debt recovery experience to apply significant pressure to difficult customers while avoiding unnecessary damage to ongoing relationships. If debt recovery issues cannot be resolved amicably, we can take your credit control process to the next level by enforcing debts through commercial litigation. This may even involve applications for winding-up debtor companies.
We have also had considerable success in securing favourable outcomes for clients with exposure to insolvency proceedings and we act for a number of top 20 insolvency practitioners.
Advising a diverse range of clients across the full spectrum of insolvency means we are able to provide a comprehensive debt recovery and insolvency service.
We may be a City of London law firm, but our insolvency and debt recovery team are the most approachable and commercially focused lawyers you will are likely to meet. We will not simply process your file through a detached case management system. Our advice is tailored to your individual circumstances and we are dedicated to providing a personal service which you will rarely find at a City law firm.